ssv.network (SSVUSDT) Market Overview: 24-Hour Technical Summary

ssv.network (SSVUSDT) closed at 9.98 (12:00 ET) after a 24-hour range of 9.19 (low) to 10.35 (high). The pair opened at 9.2 (12:00 ET-1), with total volume of 202,544.35 and total turnover of 4,870.5 (USD).

Summary

• Surge to 10.35 resistance faltered, with sharp pullback signaling unresolved bears.
• High volume on declines (e.g., 20k+ at 10.35) highlights strong selling pressure.
• RSI overbought (72) at swing highs, suggesting near-term correction risks.
• Key support at 9.8–9.9 holds as prior lows act as floor.
• Bullish engulfing candles at 10.0–10.15 suggest short-term buying interest.

Technical Analysis

Structure & Formations

SSVUSDT tested resistance near 10.35, where a bearish engulfing candle (July 16 07:00 ET) marked a failed breakout. Support at 9.8–9.9 held during the pullback, with Fibonacci retracement levels (61.8% at ~10.1) offering potential intermediate resistance.

Moving Averages

The 15-minute 20-period MA (≈10.05) remains below the 50-period MA (≈10.12), signaling short-term bearish momentum. On the daily chart, the 50-day MA (~9.5) and 100-day MA (~9.3) suggest a wider sideways consolidation.

MACD & RSI

MACD dipped below its signal line, with a bearish divergence forming as price peaked above prior swings but MACD failed to confirm. RSI briefly hit 72, entering overbought territory, raising odds of a retracement toward 50–55.

Bollinger Bands

Volatility spiked during the surge, with price hitting the upper band (10.35), but contraction afterward hints at a consolidation phase. Current price sits near the lower band (~9.9), suggesting a potential rebound.

Volume & Turnover

Highest volume occurred during the peak decline (20,222.03 at 10.35), confirming bearish conviction. Turnover peaked at ~42k USD during the rally, but recent dips saw reduced participation, signaling exhaustion.

Fibonacci Retracements

A 38.2% retracement (~10.1) and 61.8% (~9.9) from the 10.35–9.19 swing define critical zones. A breach below 9.8 could open deeper lows toward 9.5–9.3.

Outlook & Risk

SSVUSDT may consolidate near 9.8–10.0 over the next 24 hours, with resistance at 10.15–10.35. Buyers will need to reclaim 10.2+ to negate bearish bias. Traders should monitor volume confirmations and RSI exits from overbought territory. Risk caveat: Sharp volatility remains likely due to unresolved momentum divergence.